Guideline Value for Ganesh Nagar

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Erumaiyur village under the Padappai SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Ganesh Nagar has changed

The guideline value for Ganesh Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft. In 2017, it decreased to Rs 335 per sq.ft, marking a reduction of 33%. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, and then further rose to Rs 550 per sq.ft in the 2024 revision, reflecting a total increase of 49% from 2017 to 2023.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Erumaiyur

Erumaiyur village has a range of guideline values across its 21 streets under the Padappai SRO, with the 2024 figures varying from Rs 440 to Rs 4,300 per sq.ft. The median value is Rs 940 per sq.ft, placing Ganesh Nagar's 2024 figure below this median.

• GR Nagar and Extn: Rs 940 per sq.ft (2024)
• Ek Avenues: Rs 2,630 per sq.ft (2024)
• Indhra Gandhi Street: Rs 550 per sq.ft (2024)
• Dhargas Road: Rs 940 per sq.ft (2024)
• Bharathi Nagar: Rs 550 per sq.ft (2024)
• Keerthi Nagar: Rs 940 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganesh Nagar?

Ganesh Nagar falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Erumaiyur

The guideline value is a crucial factor in property transactions in Erumaiyur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area. The guideline value serves as a benchmark for the sale price, ensuring that the transaction reflects the prevailing market conditions.

When registering a property, buyers must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What are the other guideline values in Erumaiyur?

In Erumaiyur, the guideline values for other streets range from Rs 440 to Rs 4,300 per sq.ft, with the median being Rs 940 per sq.ft.

What are the stamp duty and registration fees for properties in Ganesh Nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles property registrations for Ganesh Nagar?

The Padappai Sub Registrar Office handles property registrations for Ganesh Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.